China to launch mixed ownership pilot programs in oil, gas, rail sectors

China to launch mixed ownership pilot programs in oil, gas, rail sectors

Venus Wu

As China restructures its state-owned companies, it will also moderately increase investment in infrastructure and public services, Xu Shaoshi, head of the National Development and Reform Commission (NDRC), told reporters at a briefing in Beijing.

In September last year, China issued guidance on reforming state-owned enterprises, including the introduction of so-called mixed ownership of state firms, as part of the most far-reaching reforms of its sprawling and inefficient state sector in two decades.

China has about 150,000 state-owned enterprises, managing more than 100 trillion yuan ($15.37 trillion) in assets and employing over 30 million people, according to the official Xinhua news agency.

(Reporting By Pete Sweeney and Xiaoyi Shao; Editing by Kim Coghill)

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